TORONTO, Jan. 20, 2020 /CNW/ - Nighthawk Gold Corp. ("Nighthawk" or the "Company") (TSX: NHK; OTCQX: MIMZD) is pleased to report assay results for eight drillholes (4,011 metres) completed on Zones 1.5 and 2.0 of the Colomac Main Sill, part of the Colomac Gold Project ("Colomac") centrally located within its Indin Lake Gold Property, Northwest Territories, Canada (Table 1). All holes intersected mineralization and define a widening to depth of the mineralized upper portion of the east facing sill and a corresponding expansion along strike to the south. Previously drilled hole C19-39B defined a substantial increase in true width of the mineralized portion of the sill within the northern part of Zone 2.0 (see press release dated December 3, 2019). Current drilling south of C19-39B appears to add a further southward strike extension of the 500-metre-long wedge-shaped panel of mineralization formed by the amalgamation of high-grade Zone 1.5 with northern Zone 2.0. At shallow depths the panel has a true width of 30.00 metres but expands to upwards of 155.00 metres in true width at 800 metres vertical depth where it remains open. The Company is planning additional drilling in 2020 to better constrain these preliminary observations. Dr. Michael Byron, President and Chief Executive Officer said, "As we continue drilling deeper within the host sill we are seeing a well-defined consistency in the widening of its mineralized portion to depth. The current holes have strengthened that observation and our understanding that this is not a localized feature but probably represents the true morphology of the Colomac Main Sill, and given that it is the deposit's largest host, it also represents our best target for rapid resource advancement."

"We have tremendous support from our strategic partners and loyal shareholders which puts us in the favourable position of being fully-funded for the year. We look forwarding to providing results for the remaining holes in the coming weeks and providing an update on our 2020 exploration plans."

To date a total of 29,495 metres of the 35,018-metre program at Colomac have been released. Results are pending for the remaining 17 drillholes from the Colomac Main Sill and the Goldcrest Sill (parallel sill that lies 400 metres to the west of the Colomac Main Sill), as well as the last 9 holes (2,796 metres) from the regional drill program at the Treasure Island Gold Project and will be released within the next few weeks.

The Company is gearing up for its 2020 drilling season and is fully funded to achieve its ongoing goals and objectives for the ensuing year.

Colomac Drilling Highlights: Zone 2.0

• Four holes tested areas within the northern portion of Zone 2.0, below the former producing open pit ("Pit 2.0", see Figure 1), and are highlighted by hole C19-40 which was drilled below holes C12-03 and C12-03B, the first holes drilled to depth under Pit 2.0 (see press releases dated June 20, 2012; August 30, 2012), and intersected 85.50 metres (40.00 metre true width) of 1.86 grams per tonne gold ("gpt", "Au"), including 9.25 metres of 2.85 gpt Au, 22.75 metres  of 2.57 gpt Au, and including 13.05 metres of 3.10 gpt Au; with a deeper intersect of 24.25 metres (12.00 metre true width) of 2.04 gpt Au, including 9.00 metres of 3.57 gpt Au, and including 6.00 metres of 4.13 gpt Au (Figures 1, 2).

• Hole C19-51 was drilled at the southern end of Pit 2.0 and extended shallow mineralization reported in historical holes to depth, intersecting 61.70 metres (35.00 metre true width) of 1.46 gpt Au, including 21.45 metres  of 2.03 gpt Au, and including 6.75 metres of 2.57 gpt Au (Figure 3)

• Drilling to depth at Zone 2.0 intersected extensive regions of largely uninterrupted mineralization with hole C19-40 intersecting 194.00 metres (100.00 metre true width), and C19-41 returning 230.00 metres (90.00 metre true width) of relatively continuous downhole mineralization.

• Pronounced widening of the mineralized portion of the sill to depth as seen at Zone 1.5 and the northern section of Zone 2.0 appears to have been extended southward by the current drilling. This indicates that a similar wedge-shaped morphology exists well into the core of Zone 2.0 where mineralization has been traced from near-surface to over 440 metres vertical depth by hole C19-41 and remains open.

Zone 1.5

• Four holes infilled gaps in drill coverage within Zone 1.5, highlighted by hole C19-42B which intersected 47.00 metres (20.00 metre true width) of 1.46 gpt Au, including 8.85 metres of 1.96 gpt Au, and including 6.50 metres of 2.39 gpt Au; with an up-hole intersection of 14.90 metres of 2.70 gpt Au, including 3.60 metres of 8.86 gpt Au; and confirms widening of the mineralized portion of the sill from a near-surface true width of 30 metres to 110 metres true width at depth (Figure 4).

• Hole C19-49 intersected 36.55 metres (20.00 metre true width) of 1.65 gpt Au, including 21.75 metres (10.00 metre true width) of 2.22 gpt Au, and including 7.50 metres of 4.28 gpt Au.

Note: All assays are uncut (see Table 1)

Table 1. Colomac Drill Results – Summary Table (uncut)

The FULL ASSAY TABLE is available as a media document within this release as well as on the Company's website at https://www.nighthawkgold.com/news